Dec 31, 2012 7:00pm EST
that hold up the tax hike that will take place in ten hours. >> i want to give a kudos to senator biden. good for him and good for mcconnell. good evening. this is the kudlow report. now there still may be a vote in the senate tonight. the breaking news story devel developing on a minute by minute basis. let's bring in john who has been doing a brilliant job. good evening. >> reporter: we are still waiting for the wrap up of a deal between vice president biden and senate republican leader mcconnell. i got a message from a source in the senate who said we are getting there on wrapping up democratic obsessions to the deal. one is over the issue of the cross the board budget cuts. democrats want to put those off at least a year. not kick the can for a couple of months down the road. another was on the estate tax. it would go up to 40%. some see that as a victory. but others say that is not a good deal especially when you say that republicans have it. let's run over the provisions that have been agreed to. taxes would go up to 39.6%. the clinton era rates on income on $450,000 for couples.
Dec 28, 2012 7:00pm EST
to make a deal. here now to ace cnbc contributor, biden's chief economist and jimmy path kukis of the american enterprise institute. will we have a deal by monday. >> >> think we are. if you had asked me before the president spoke i would have said no. >> why? >> because i can see a path. if mcconnell and reid can hammer out a deal that's acceptable to both of them i believe that john boehner will let that deal come up for a vote in the house, and i believe that vote will pass in the house though probably with majority democrat. if that happens, we may well have a deal. >> you said a big f, though. if mcconnel and reid can hammer something out. the senate hasn't passed a budget in years, jared. tell me, how is harry reid going to come up with something by monday? >> well, as you've been stressing for most of the show, correct me, this is not a budget. this is a last-minute deal that's going to have a few components and i will count them on one hand that will have a tax threshold. 250. i wouldn't be surprised if they went to him with a higher number. u.n. extension, doc fix and